MIRA
INFORM REPORT
|
Report No. : |
307576 |
|
Report Date : |
13.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
GALAXY OFFICE AUTOMATION PRIVATE LIMITED |
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Registered
Office : |
602, Galaxy Apartments, Off T H Kataria Marg, Mahim, Mumbai - 400016, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
03.11.1987 |
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Com. Reg. No.: |
11-045206 |
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Capital
Investment / Paid-up Capital : |
Rs.6.000 Millions |
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CIN No.: [Company Identification
No.] |
U30000MH1987PTC045206 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Dealer and Distributors of peripherals and also providing computer
related services. |
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No. of Employees
: |
238 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. Sales turnover of the company has declined during 2014. However, the rating takes into consideration company’s sound financial
risk profile and fair liquidity position of the company. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. The company can be considered for business dealings at usual trade
terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating = BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
March 26, 2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating = A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
March 26, 2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Nilesh |
|
Designation : |
Account Department |
|
Contact No.: |
91-22-42187726 |
|
Date : |
11.02.2015 |
LOCATIONS
|
Registered Office : |
602, Galaxy Apartments, Off T H Kataria Marg, Mahim, Mumbai - 400016,
Maharashtra, India |
|
Tel. No.: |
91-22-24303555/ 24224172/ 42187777 |
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Fax No.: |
91-22-24373143/ 42187760 |
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E-Mail : |
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Website : |
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Area : |
Owned |
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|
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Branch Office 1
: |
A 23/24, Ambika Towers, Ground Floor, Off Jiyamata Road, Near Pump
House, Andheri (East), Mumbai – 400093, Maharashtra, India |
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Tel. No.: |
91-22-42187777 |
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Fax No.: |
91-22-42187760 |
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E-Mail : |
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Branch Office 2
: |
BF - 38 Shantipally, 1409-Rajdanga Main Road, Opposite Chakraborty Para, Kolkata - 700107, West Bengal, India |
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Tel. No.: |
91-33-32538359 |
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E-Mail : |
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Branch Office 3
: |
No. 30, VGP Victory house 39, Anna Salai, Chennai - 600002, Tamilnadu, India |
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Tel. No.: |
91-44-43567808 |
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E-Mail : |
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Branch Office 4
: |
1008/A, Span Trade Center, Opposite Kochrab Ashram, Ashram Road, Paldi, Ahmedabad - 380006, Gujarat, India |
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E-Mail : |
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Branch Office 5
: |
MIG. 6/A, Street No. 3, B. K. Guda, S. R. Nagar, Hyderabad - 500038, Andhra Pradesh, India |
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Tel. No.: |
91-40-32445323 |
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E-Mail : |
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Also Other Branch Office : |
Located At: · Delhi · Pune · Navi Mumbai · Lucknow · Jamshedpur · Hyderabad · Bangalore |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Anoop Premanand Pai Dhungat |
|
Designation : |
Managing Director |
|
Address : |
Flat No. 43,
Belle View Apartment, 85, Bhulabhai Desai Road, Breach Candy, Mumbai –
400026, Maharashtra, India |
|
Date of Birth/Age : |
15.09.1964 |
|
Date of Appointment : |
03.11.1987 |
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Din No.: |
00760191 |
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Name : |
Mrs. Sonu Anoop Pai Dhungat |
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Designation : |
Director |
|
Address : |
Flat No. 43,
Belle View Apartment, 85, Bhulabhai Desai Road, Breach Candy, Mumbai –
400026, Maharashtra, India |
|
Date of Birth/Age : |
25.12.1968 |
|
Date of Appointment : |
25.09.1996 |
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Din No.: |
00760220 |
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Name : |
Mr. Sanjay Kailashchandra Patodia |
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Designation : |
Whole – Time Director |
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Address : |
Jaideep Apartment, C-II, 2nd Floor, Malvani-I, Marve Road,
Malad (West), Mumbai-400095, Maharashtra, India |
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Date of Birth/Age : |
27.09.1971 |
|
Date of Appointment : |
25.09.2013 |
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Din No.: |
00726222 |
KEY EXECUTIVES
|
Name : |
Mr. Nilesh |
|
Designation : |
Account Department |
MAJOR SHAREHOLDERS
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Anoop Premanand Pai Dhungat |
41250 |
68.75 |
|
Anoop Premanand Pai Dhungat HUF |
9000 |
15.00 |
|
Premanand Bhikhu Pai Dhungat |
3000 |
5.00 |
|
Sanjay Kailashchandra Patodia |
3740 |
6.23 |
|
Sonu Anoop Pai Dhungat |
375 |
0.63 |
|
Padmini Premanand Pai Dhungat |
375 |
0.63 |
|
Meena S. Patodia |
1660 |
2.77 |
|
Ajay K. Patodia |
600 |
1.00 |
|
Total |
60000 |
100.00 |
As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Dealer and Distributors of peripherals and also providing computer
related services. |
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Products : |
Not Available |
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Brand Names : |
Not Available |
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Agencies Held : |
IBM |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
238 (Approximately) |
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Bankers : |
·
Bank of Maharashtra, T. H. Kataria Branch, Mahim
Mumbai – 400016, Maharashtra, India ·
ICICI Bank Limited |
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Facilities : |
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Auditors : |
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Name : |
Shah and Taparia Chartered Accountants |
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Address : |
12, Navjivanwadi, Dhobitalao, Mumbai – 400002, Maharashtra, India |
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Tel. No.: |
91-22-42150401 / 02 / 03 |
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E-Mail : |
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PAN No.: |
AAOFS0663D |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Related Parties : |
·
Mumbai Institute of Computer Academy ·
Blue Zone Systems Private Limited ·
Mas Design Associates |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.100/-each |
Rs.10.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
60000 |
Equity Shares |
Rs.100/-each |
Rs.6.000
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
6.000 |
6.000 |
5.975 |
|
(b) Reserves &
Surplus |
81.804 |
66.587 |
52.376 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
0.000 |
0.000 |
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Total Shareholders’ Funds
(1) + (2) |
87.804 |
72.586 |
58.351 |
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(3) Non-Current
Liabilities |
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|
|
|
(a) long-term borrowings |
1.008 |
1.355 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
1.008 |
1.355 |
0.000 |
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|
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
43.980 |
36.034 |
22.864 |
|
(b) Trade payables |
55.986 |
87.943 |
69.484 |
|
(c) Other current
liabilities |
4.925 |
14.284 |
13.234 |
|
(d) Short-term provisions |
7.263 |
8.282 |
4.984 |
|
Total Current Liabilities
(4) |
112.154 |
146.544 |
110.566 |
|
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|
|
|
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TOTAL |
200.966 |
220.485 |
168.917 |
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II.
ASSETS |
|
|
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|
(1) Non-current assets |
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|
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(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
15.681 |
18.057 |
17.669 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.014 |
0.014 |
0.014 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1.753 |
3.392 |
1.583 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
17.448 |
21.463 |
19.266 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
4.228 |
17.870 |
7.514 |
|
(c) Trade receivables |
104.840 |
131.653 |
96.507 |
|
(d) Cash and cash
equivalents |
49.268 |
24.631 |
24.329 |
|
(e) Short-term loans and
advances |
24.373 |
22.853 |
20.332 |
|
(f) Other current assets |
0.809 |
2.015 |
0.969 |
|
Total Current Assets |
183.518 |
199.022 |
149.651 |
|
|
|
|
|
|
TOTAL |
200.966 |
220.485 |
168.917 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
725.538 |
1044.113 |
525.893 |
|
|
Other Income |
1.424 |
1.702 |
NA |
|
|
TOTAL |
726.962 |
1045.815 |
NA |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
8.314 |
10.297 |
|
|
|
Purchases of
Stock-in-Trade |
570.793 |
916.173 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
13.642 |
-10.355 |
|
|
|
Employees benefits
expense |
74.020 |
65.930 |
|
|
|
Other expenses |
31.262 |
36.592 |
|
|
|
TOTAL |
698.031 |
1018.637 |
512.395 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION
|
28.931 |
27.178 |
(Including
Finance Expenses and depreciation) |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
3.586 |
2.229 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
25.345 |
24.949 |
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
2.865 |
3.937 |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
22.480 |
21.012 |
15.337 |
|
|
|
|
|
|
|
Less |
TAX |
7.263 |
7.021 |
4.984 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
15.217 |
13.991 |
10.353 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
253.62 |
233.18 |
172.55 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Net Profit Margin PAT / Sales |
(%) |
2.09
|
1.33 |
1.96 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
3.98
|
2.60 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.19 |
9.53 |
9.08 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26 |
0.29 |
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debts/Networth) |
|
0.51 |
0.52 |
0.39 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.64 |
1.36 |
1.35 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
5.975 |
6.000 |
6.000 |
|
Reserves & Surplus |
52.376 |
66.586 |
81.804 |
|
Net worth |
58.351 |
72.586 |
87.804 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
1.355 |
1.008 |
|
Short term borrowings |
22.864 |
36.035 |
43.980 |
|
Total borrowings |
22.864 |
37.390 |
44.988 |
|
Debt/Equity ratio |
0.392 |
0.515 |
0.512 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
525.893 |
1044.113 |
725.538 |
|
|
|
98.541 |
(30.512) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
525.893 |
1044.113 |
725.538 |
|
Profit |
10.353 |
13.991 |
15.217 |
|
|
1.97% |
1.34% |
2.10% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBTS
(Rs.
In Millions)
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
0.346 |
0.311 |
0.181 |
|
Total |
0.346 |
0.311 |
0.181 |
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
---------------------- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10538611 |
26/12/2014 |
40,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA |
C38048898 |
|
2 |
10129576 |
15/12/2008 * |
15,000,000.00 |
BANK OF MAHARASHTRA |
T. H. KATARIA
BRANCH, MAHIM, MUMBAI, Maharashtra |
A54029152 |
|
3 |
10112348 |
18/03/2013 * |
65,000,000.00 |
BANK OF MAHARASHTRA |
T. H. KATARIA BRANCH,
MAHIM, MUMBAI, Maharashtra |
B73691198 |
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
From Related
Parties |
|
|
|
Directors and Shareholders |
9.770 |
5.649 |
|
Total |
9.770 |
5.649 |
FIXED ASSETS
·
Building
·
Furniture and Fittings
·
Computer and Peripherals
·
Plant and Machinery
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.43 |
|
|
1 |
Rs.95.01 |
|
Euro |
1 |
Rs.70.63 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
PNM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
42 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.